Ont. government releases statement in reaction to province’s increase in employment
by CM Staff
The Ont. government has proposed a 10 per cent Ontario Made Manufacturing Investment Tax Credit, to try and help local manufacturers invest in innovation, expand operations and create new jobs.
Ontario has an unemployment rate of 7.3 per cent, above the national average of 6.9 per cent. PHOTO: Benson Kua, via Wikimedia Commons
TORONTO — Vic Fedeli, Minister of Economic Development, Job Creation and Trade, issued a statement following Apr. 6’s monthly employment release by Statistics Canada that showed employment in Ontario increased by 21,400 jobs in March 2023.
“For the sixth straight month, we have seen jobs increase in Ontario along with new investments from global and domestic companies. Since 2018, more than 600,000 good-paying jobs have been added to the province and we continue to lead the nation in job creation.
Amid global economic uncertainty, our government is taking a targeted and responsible approach to support people and businesses today, while also laying a strong foundation for the future. We’re investing in infrastructure, training a world-class workforce, cutting red tape and keeping taxes low so that all companies, from innovative start-ups to global corporate giants, have the best opportunity to grow and create more jobs.
Over the last two and a half years, we’ve attracted over $17 billion in auto investments and, just last month, Volkswagen, Europe’s largest automaker, announced plans to build its first overseas electric vehicle (EV) battery cell manufacturing facility in St. Thomas. VueReal, a made-in-Ontario start-up, also recently announced a $40 million manufacturing investment to expand their operations.
As we face global challenges, our government is also doing more to help Ontario-based manufacturing companies remain competitive. As part of our 2023 Budget: Building a Strong Ontario, we’re proposing a 10 per cent Ontario Made Manufacturing Investment Tax Credit, helping local manufacturers invest in innovation, expand operations and create new good-paying jobs.
Our government will continue to work around the clock to build a strong Ontario by driving growth and strengthening the province’s competitive edge. Our work today will ensure that Ontario workers and businesses continue to succeed now and for generations to come.”
